Prometheus Fuels

Prometheus Fuels (Prometheus) is an air-to-fuel (A2F) startup that leverages direct air capture (DAC) to produce carbon-neutral fuel from ambient air and claims that its technology can produce gasoline at price points competitive with fossil fuels. Another key advantage of Prometheus’ solution is that its carbon-neutral fuel is readily compatible with existing gasoline vehicles and does not require any modifications.

The company follows a next-generation electro chemical-based approach to convert carbon dioxide (CO2) into carbon-neutral fuel using renewable energy and carbon nanotubes. Industrial fans suck ambient air and blow it across a waterfall that absorbs CO2 and additional water. The electricity ‘charges’ and ‘energizes’ captured carbon with hydrogen molecules from water to create long-chain alcohols. Alcohols are then harvested using a special type of membrane called the Maxwell Core. Its pores are carbon nanotubes, which allows alcohol through while rejecting water. A final catalyst step combines the alcohols and recovers water. The company claims that they are the only ones in the world who possess the capability of economically separating alcohol from water. This step can be customized to produce gasoline, diesel, or jet fuel.

Key customers and partnerships

In June 2019, Prometheus partnered with Boom Supersonic to supply carbon-neutral fuel for the flight test program of one of its demonstrator aircrafts scheduled for 2021. In July 2021, the company entered into a purchase agreement with American Airlines to supply 10 million gallons of carbon neutral jet fuel.

Funding and financials

In September 2021, Prometheus raised an undisclosed amount in a Series B funding round led by Maersk, Metaplanet and BMW i Ventures. Previously in June 2020, BMW i Ventures also announced an investment of USD 12.5 million into Prometheus.